Paladin Energy has begun preparations at Langer Heinrich ahead of a potential decision to put the Namibian uranium mine under care and maintenance. A decision is expected within two months.Langer Heinrich (Image: Paladin)Langer Heinrich produced 3.4 million pounds U3O8 (1308 tU) in 2017 from the processing of stockpiled medium-grade ore: physical mining activities were curtailed at the end of 201...Read More
(Kitco News) - Newmont Mining Corp. (NYSE: NEM) Thursday reported arise in its first-quarter profit as the price of gold climbed, althoughproduction eased from the same quarter a year ago.Netincome attributable to shareholders was listed at $192 million, or 36 cents pershare, compared to $47 million, or 9 cents, in the same quarter a year ago.Thecompany put its adjusted net income at $18...Read More
Minera Escondida has ended early talks with its unionized workers aimed at agreeing a new labor deal, the Chilean copper producer said.The miner and the parties have been in direct talks since the end of March but they failed to meet the conditions for extending the process, the BHP-operated miner said on Thursday April 26."We have [been flexible], clearing from the beginning the main points that...Read More
JD Powers and LMC Automotive are projecting auto sales to drop 8% in April from a year-ago April:For much of the past two years, the discounts offered by automakers have remained at levels that industry analysts say are unsustainable and unhealthy in the long term...Sales are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with...Read More
PERTH (miningweekly.com) – Uranium miner Paladin Energy on Thursday announced that it was unlikely to resume physical mining activities at its Langer Heinrich operation, in Namibia, and has taken preparatory steps to place the operation under care and maintenance.Paladin previously told shareholders that the medium-grade ore stockpiles currently being used as feed for the Langer Heinrich pro...Read More
As the U.S. dollar is breakingout to the upside, gold failed to hold the higher support level established acouple of weeks ago at $1,330. The dollar breakout should add pressure todollar-denominated commodities, especially the metals.Gold has struggled for months andthe new-found strength in the dollar is not going to be helpful for the priceof gold. The current price action in gold indicates that...Read More
Gold thoughts and points NAPOLEON BONAPARTE... Napoleon Bonaparte once advised to "never interfere with an enemy when he is making a mistake." Some gold companies' shareholders may now be making serious mistakes by selling shares in stocks that they have lost patience with; ye...Read More
The loading of fuel assemblies into the core of unit 1 of the Sanmen nuclear power plant in China's Zhejiang province began today following the issuance of a permit by the country's nuclear regulator. The unit is later this year expected to become the first Westinghouse AP1000 to enter operation.Sanmen units 1 and 2 (Image: CNNC)Westinghouse said China's National Nuclear Safety Administration (NNS...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Aston Bay Holdings (BAY.V) has been active to fill up its treasury in anticipation of the 2018 exploration season. The company raised a total of C$4.47M (C$0.47M more than announced) in a placement which took approximately 3.5 months to close. The placement was announced in December of last year, and the final tranche enjoyed a lot of shareholder interest given the recent strong performance of the...Read More
Nickel intermediates could provide the most cost-effective means of bringing on-stream additional class one nickel units to serve the growing battery market, according to Frank Nikolic, head of base metals intelligence at Vale. Nickel demand from the battery sector could increase to 1.8 million tonnes by 2030 from 700,000 tonnes by 2025, according to Vale's upside forecast. Its more conservative f...Read More
CloseGain/LossGold $1317.50-$5.60Silver$16.52-$0.04XAU82.52+0.07%HUI180.53-0.17%GDM630.18+0.33%JSE Gold1095.67+0.56USD91.59+0.39Euro121.06-0.68Yen91.60+0.07Oil$68.19+$0.1410-Year2.982%-0.044T-Bond142.46875+0.71875Dow24322.34+0.99%Nasdaq7118.68+1.64%S&P2666.94+1.04% The Metals: Gold fell $7.70 to $1315.40 by midday in New York before it bounced back higher into the close, but it still ended...Read More
(Kitco News)- Gold pricesremains relatively unchanged on the day, hovering near the bottom of theircurrent trading range following mixed U.S. manufacturing data.Thursday,the U.S. Census Bureau said that new durable goods orders increased $6.4billion or 2.6 percent to $254.9 billion, in March, beating expectations.Consensus forecasts were calling for an increase of 1.6%.However, core orders, which...Read More
- Investors should not be put off by higher interest rates, World Gold Council research finds they do not always have a negative impact on gold- Only short-term movements in gold are 'heavily influenced by US interest rates'- Correlation between US interest rates and gold is waning, with US dollar a better indicator of short-term gold price- New findings will reassure gold investors that there...Read More
The tailings dam wall slump at Cadia and underperformance at Telfer have led ASX-listed gold major Newcrest Mining to cut its full-year production guidance.Kristie Batten*Newcrest's Telfer operation26 APRIL 201826/04/2018commentsshareMarch quarter gold production fell by 6% to 576,000 ounces, while copper output was down by 15.5% to 19,000 tonnes.Year-to-date production was 1.71 million ounces...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Initialweekly U.S. jobless claims fell by 24,000 to a seasonally adjusted 209,000in the week to Saturday, the Labor Department reported. This was the lowestlevel since December 1969.Consensusforecasts compiled by various news organizations had called for initial claimsto be around 230,000. The government revise...Read More
Chinese alumina imports dropped to a record low of 8,145 tonnes in March, with zero inflows from Australia, China's largest alumina supplier, according to customs data. In addition, total alumina shipments to China in the first three months came to just 184,905 tonnes, a drop of 79.93% year on year. The import window has been closed since early this year, with import losses continuing to widen in...Read More
Centerra Gold's Kumtor gold mine in the Kyrgyz Republic. Source: Centerra Gold Inc.Centerra Gold Inc. [CG-TSX] said Thursday April 26 that in response to market speculation, it has released a statement regarding an unsolicited offer from Chaarat Gold Holdings Ltd., which recently offered to acquire Centerra's Kumtor gold mine in the Kyrgyz Republic.Chaarat [CGH-AIM] is an exploration and developme...Read More
Mineral exploration and development company Beowulf Mining (AIM:BEM) has announced its involvement in a Finnish cooperation network for battery manufacturing.Jacqueline HolmanBeowulf is developing the Aitolampi graphite project25 APRIL 201825/04/2018commentsshareThe network includes existing and new entrant raw material suppliers in Finland's emerging battery manufacturing industry in the cities o...Read More
Spearmint Resources Inc. (TSXV:SRJ), a resource junior, rose after announcing that it has increased its land holding on the “Why West” magnesium prospect in British ColumbiaSean Mason | April 26, 2018 | SmallCapPowerA land holding expansion pushed up the stock price of a resource junior Thursday. Here's some small stocks making big moves on Thursday, April 26, 2018 (as of 4 pm EST):...Read More